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If $8,000 is invested at 9% per year compounded monthly, the future value S at any time t (in months) is given by S=8,000(1.0075)t.
If $8,000 is invested at 9% per year compounded monthly, the future value S at any time t (in months) is given by S=8,000(1.0075)t. (a) What is the amount after 1 year? (Round your answer to two decimal places.) $ (b) How long before the investment doubles? (Round your answer to one decimal place.) months
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Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics
Authors: Cliff Ragsdale
9th Edition
0357132092, 978-0357132098
